Gotion High-tech's Revenue is 8.638 billion with overseas revenue growth of 358.28% in the first half of the year

HEFEI, China, Aug. 26, 2022 /PRNewswire/ -- On August 26 Beijing Time, Gotion High-tech announced its interim results. During the Reporting Period, the Company achieved revenue of RMB 8,638 million, representing a year-on-year growth of 143.24%, of which revenue from overseas regions increased by 358.28% year-on-year to RMB1.279 billion, and is expected to achieve its target of 100% growth in total revenue over the previous year in the future.

Gotion High-tech is a leading power battery company in the field of new energy vehicles in China. Gotion High-tech generated revenue mainly from power lithium battery, energy storage battery and power transmission and distribution equipment. During the Reporting Period, company power lithium battery business maintained a solid growth trend, and achieved revenue of RMB 6.61 billion , representing a year-on-year increase of 113.93%, and was the company's biggest source of revenue. In particular, the energy storage battery business was disclosed for the first time in the financial report, achieving revenue of RMB1.28 billion during the period, accounting for 14.8% of the total revenue.

According to SNE Research, in the first half of the year, Gotion High-tech has battery installed capacity of 5.8 GWh, with a market share of 2.9%, up 1 percentage point from the same period of last year, ranking 8th in the world; and recorded over 250 thousand units for EV battery installed passenger vehicle in the world, accounting for a market share of approximately 5.9%, and ranked 5th in the global market.


Source: Gotion High-Tech Related Stocks: Shanghai:002074 Shenzhen:002074
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